B. Riley Analysts Raise Earnings Estimates for Opera Limited (NASDAQ:OPRA)

Opera Limited (NASDAQ:OPRA) – Stock analysts at B. Riley boosted their Q1 2024 earnings estimates for shares of Opera in a report released on Friday, April 19th. B. Riley analyst N. Khan now forecasts that the company will post earnings of $0.15 per share for the quarter, up from their previous forecast of $0.14. The consensus estimate for Opera’s current full-year earnings is $0.73 per share. B. Riley also issued estimates for Opera’s Q2 2024 earnings at $0.16 EPS, FY2025 earnings at $1.06 EPS, FY2026 earnings at $1.37 EPS, FY2027 earnings at $1.69 EPS and FY2028 earnings at $2.02 EPS.

A number of other equities analysts have also commented on OPRA. TheStreet raised Opera from a “c+” rating to a “b-” rating in a research note on Monday, March 4th. TD Cowen lifted their price objective on Opera from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st.

Opera Stock Up 3.9 %

Shares of NASDAQ:OPRA opened at $14.49 on Monday. The business has a fifty day simple moving average of $14.11 and a 200 day simple moving average of $12.58. Opera has a 12-month low of $9.40 and a 12-month high of $28.58. The firm has a market cap of $1.29 billion, a P/E ratio of 7.42 and a beta of 0.81. The company has a quick ratio of 4.69, a current ratio of 2.56 and a debt-to-equity ratio of 0.01.

Opera (NASDAQ:OPRA) last issued its quarterly earnings results on Thursday, February 29th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $1.20. The company had revenue of $113.00 million during the quarter, compared to the consensus estimate of $112.20 million. Opera had a net margin of 42.69% and a return on equity of 19.90%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. acquired a new position in Opera during the 3rd quarter valued at about $29,000. Tucker Asset Management LLC raised its position in Opera by 25.1% in the 3rd quarter. Tucker Asset Management LLC now owns 6,700 shares of the company’s stock valued at $76,000 after buying an additional 1,344 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in Opera during the 3rd quarter worth $118,000. Redwood Wealth Management Group LLC bought a new position in shares of Opera during the fourth quarter valued at about $139,000. Finally, Ritholtz Wealth Management purchased a new position in shares of Opera in the 3rd quarter worth approximately $156,000. Institutional investors own 10.21% of the company’s stock.

Opera Company Profile

Opera Limited, together with its subsidiaries, provides mobile and PC web browsers. It operates in two segments, Browser and News, and Other. The company offers mobile browser products, such as Opera Mini, Opera for Android and iOS, Opera GX Mobile, and Opera Touch; PC browsers, including Opera for Computers and Opera GX; Apex Football; Opera VPN Pro; and Opera News, an AI-powered personalized news discovery and aggregation service.